Abstract: Performance measurement provides the inspiration to achieve superior levels of effectiveness and competitiveness. It focuses on means and results or processes and outcomes of, and can be described in terms of practices and metrics. This paper is a review of related studies and literature on the measurement of strategic performance in state-owned organizations with a detailed evaluation of some proposed contemporary metrics. Materials for the study were collated from secondary sources including proceedings from conferences, book references, periodicals, journals, newspapers, and the internet. An interpretive literature approach was adopted for the study. Thoughts and personal interpretations on the issues addressed in the paper were the bases upon which the authors drew their conclusions on the topic. The study revealed that given the dynamic and rapidly changing environment in which most organizations operate, it is important that state-owned organizations design, implement and effectively manage their performance measurement metrics. This would ensure that such metrics remain appropriate and provides information that is relevant to the strategic performance of the specific enterprise.